Phil on for Siti Panigrahi's questions to Paylocity Holding Corp (PCTY) leadership • Q1 2025
Question
Phil, on for Siti Panigrahi, asked for the breakdown of growth between new customers and cross-selling to the existing base, and which products are gaining the most traction with current clients.
Answer
President and CEO Toby Williams reiterated that growth has been and is expected to remain well-balanced between new clients and increased average revenue per user (ARPU). Executive Chairman Steven Beauchamp added that the product cohort launched in the last 18 months, including Scheduling Plus and Market Pay, has been ramping nicely toward penetration targets.